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Dec 7, 2013
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the economy is not performing we would like. real wages have been stagnant in our country for more than a decade. think about that. at the time when the cost of college and a whole host of health care is going up substantially. real wages have been frozen. you're all familiar with the budget problems that we face. there's a growing disparity have-nots haves and in our society. and that should concern all of us over time. allf these things are in some the interrelated with question of economic growth. if i had to pick one thing, i would agree with what john had to say. what's the comparative advantage. how do we grow this economy in a competitive world. in particular, how do we empower, again, not just give, citizens through hardwork and thrift and all those things to enjoy the fruits of the growth, particularly the third that aren't getting the education. the kids, let's say, that aren't quality of education we need to be economically an innovative global economy. that's what i would focus on. more ect you're a little concerned
the economy is not performing we would like. real wages have been stagnant in our country for more than a decade. think about that. at the time when the cost of college and a whole host of health care is going up substantially. real wages have been frozen. you're all familiar with the budget problems that we face. there's a growing disparity have-nots haves and in our society. and that should concern all of us over time. allf these things are in some the interrelated with question of economic...
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Dec 7, 2013
12/13
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overall, these trends are encouraging news for families and our economy. they feel more secure in their own budgets. as you know, businesses in the united states have created more than 8 million new jobs. which is a perfect segue to something i just wanted to note. today, information that was released earlier this morning is jobs data and figures on job creation in november. i think it is worth noting when you look at this graph, not only was the economy in freefall, job loss was terrible at the end of 2008 and early 2009 when president obama took office, and not only has the trajectory been consistently in the right direction, if you will note when we first began positive job creation in the wake of the great recession, it was right around when the affordable care act past. this is obviously not a direct correlation. but we are moving the right direction. the information i cited in the beginning about the positive effects of the affordable care act for reduce in growth in health-care costs combined with the steady job creation we have seen for so many mon
overall, these trends are encouraging news for families and our economy. they feel more secure in their own budgets. as you know, businesses in the united states have created more than 8 million new jobs. which is a perfect segue to something i just wanted to note. today, information that was released earlier this morning is jobs data and figures on job creation in november. i think it is worth noting when you look at this graph, not only was the economy in freefall, job loss was terrible at...
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Dec 7, 2013
12/13
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wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. . >>> nelson mandela's compassion, hum humanity, humility touches millions all over the world. peter turnley was there the day mandela was released from prison more than 20 years ago. he described the moments that followed in his own words. >> nelson mandela's example, his courage, his determination, his dignity, his forward thinking of conciliation, of forgiveness and of love for all is something that has touched so many people and it has been something that has brought people towards him and brought people together. on the morning of february 11th, 1990 i was with a group of photographers. we had gotten to the prison very early that morning. at one point in the early afternoon, i will never forget suddenly about five helicopters began to descend right over the back of this prison and suddenly there were screams that came in all directions of excitement. and i knew that something very important was about to happen. i
wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. . >>> nelson mandela's compassion, hum humanity, humility touches millions all over the world. peter turnley was there the day mandela was released from prison more than 20 years ago. he described the moments that followed in his own words. >> nelson mandela's example, his courage, his determination, his dignity, his forward...
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Dec 7, 2013
12/13
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how accurate is it now in this new economy? how accurate of a gauge is it as to how well this economy's doing? >> john is a real expert here. the reality is these numbers constantly get revised and sometimes very dramatically. if it's 100,000 jobs created, it could be six months later, oh, it was 200,000 or it could be zero. the economy is not going to lose jobs when the jobs reports are showing we're creating them. they're not good at things like self-employment, entrepreneurs. >> john, for those people looking for jobs that are not low wage, who's hiring? where are the jobs? >> unemployment for college-educated workers is below 4%. so when you look at that 7% number, it represents a lot of people who have not gotten their high school education or maybe just have a high school education. if you have a college degree, we're seeing job growth in professional and business services, certainly in engineering which continues to be kind of a real driver of jobs, health care is net hire job creator over the last several years and hire
how accurate is it now in this new economy? how accurate of a gauge is it as to how well this economy's doing? >> john is a real expert here. the reality is these numbers constantly get revised and sometimes very dramatically. if it's 100,000 jobs created, it could be six months later, oh, it was 200,000 or it could be zero. the economy is not going to lose jobs when the jobs reports are showing we're creating them. they're not good at things like self-employment, entrepreneurs. >>...
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Dec 7, 2013
12/13
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the media is as rich as any other part of the economy. and i think the correspondent's dinner is a classic example of this. >> have you attended one? >> i have, although not since 1996 because ""the new york times" stopped letting us go. >> why? >> they thought it was too -- dean baquet, who's now the managing editor of "the times", he was the washington bureau chief of "the times." i think it was in 2007, actually, declared that this is too cozy. he didn't like the message it sent. he would prefer that we stop going. i thought it was a great decision. >> describe the dinner to me. >> it's just this room full of tuxedoed people. a lot of hollywood celebrities come in. a lot of people talk about, you know, the good that the press does. but again, it's an extravaganza that continues, that it becomes the ultimate bubble world, the ultimate example of decadence in washington that people know intuitively is wrong, but have no either will or ability to stop it. >> this is a big night in washington. anyone whose anybody is here. and the key ques
the media is as rich as any other part of the economy. and i think the correspondent's dinner is a classic example of this. >> have you attended one? >> i have, although not since 1996 because ""the new york times" stopped letting us go. >> why? >> they thought it was too -- dean baquet, who's now the managing editor of "the times", he was the washington bureau chief of "the times." i think it was in 2007, actually, declared that this...